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Real Estate eNews – July 2011

07/08/10

We have reached the midway point of the year. Today, we look back over the first six months and give you a snapshot of stories that have had the biggest impact on the real estate industry so far this year.
In anticipation of what we predict will be a great 2nd half of the year – The Creig Northrop Team of Long & Foster will be launching their brand new website. Are you ready for the BIG REVEAL? We are only a few short weeks away. Stay tuned for the launch!
Top Real Estate Headlines in the 1st Half of 2011Despite Early Headlines, Sales are Increasing
Headlines earlier in the year announced the total collapse of the housing market. To those in the know, it was obvious that comparing sales numbers in the first four months of this year to the same period last year made absolutely no sense. The largest tax credit ever given to home buyers expired on April 30, 2010. Large numbers of transactions were dragged forward last year so buyers could take advantage of the credit. Pending home sales (transactions going into contract) on the other hand have done quite nicely and many institutions (ex. Fannie Mae, Freddie Mac, NAR and Moody’s Analytics) are projecting good sales numbers throughout the rest of the year.
Main Stream Media Begins to Announce “Now Is the Time to Buy!”
With prices and interest rates at historic lows and the chance that mortgages will become more costly as the private sector steps in, many in the main stream media are announcing that buying a home now makes sense. In the last 45 days, the Wall Street Journal, Forbes Magazine, National Public Radio (NPR) and CBS Money Watch have all ran articles calling for the readership to consider buying now!
Next week, we will share what we believe will be the top 5 stories in the second half of 2011.
For more details on “Why Now is the Time to Buy,” check out these Top Stories:
The Wall Street Journal: Why It’s Time to BuyCBS Money Watch: Why the Time to Buy is NowForbes Magazine: 9 Reasons to Buy a House NowNational Public Radio: For Many, It’s Still a Good Time to Buy a Home

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